Please provide search keyword(s)
IANS - BEJING
Published: 15th September 2013 02:57 PM
Last Updated: 15th September 2013 02:57 PM
China is expected to invest $13.07 billion or 80 billion yuan in exploration of oil and gas resources in 2013, according to the country's land and resources ministry.Official figures show money spent on exploration of oil and gas fields rose from 19 billion yuan in 2002 to 67.3 billion yuan in 2011, reports Xinhua.Such investments have risen steadily in China over the past years as the country wants to reduce dependence on imports and ensure security of energy supply.In the 2008-2011 period, 5.01 billion tonnes of petroleum reserves and 2.6 trillion cubic metres of natural gas were discovered.China's imported 58 percent of its oil and 30 percent of its natural gas in 2012, according to a report by the Economics and Technology Research Institute of China National Petroleum Corporation.
All comments will be reactively moderated
Disclaimer: The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. Comments are automatically posted live; however, newindianexpress.com reserves the right to take any or all comments down at any time.
Copyright © 2012 The New Indian Express. All rights reserved.